Zenith Bank board approves 2018 audited result

Zenith Bank International Plc on Monday notified the Nigerian Stock Exchange (NSE) of the approval of its financial results for the financial year ended Dec. 31, 2018 just as trading ended on a negative trend.

The bank in a letter by Mr Michael Otu, its Company Secretary-General and Counsel, said that the result was approved on Jan. 18.

Otu said that the board of directors of the bank at its meeting of Jan. 18 approved among other things, the audited account for the year ended Dec. 31, 2018.

“Consequent upon the approval, the said audited accounts will be forwarded to the Central Bank of Nigeria (CBN) for approval in line with regulatory requirements after which the bank will notify the exchange of the results,’’ Otu said.

Meanwhile, trading resumed on the exchange with a loss of 0.88 per cent due to profit taking after about one week steady growth.

The All-Share Index shed 272.45 points or 0.88 per cent to close at 30,732.72 compared to 31,005.17 posted on Friday.

Also, the market capitalisation which opened at N11.562 trillion lost N102 billion or 0.88 per cent to close at N11.460 trillion.

Seplat topped the losers’ chart, dropping by N46 to close at N530 per share.

Mobil Oil trailed with a loss of N8 to close at N180, while Dangote Cement was down by N4.90 to close at N190 per share.

Lafarge Africa dipped 40k to close at N12.40, while Etranzact depreciated by 31k to close at N3.25 per share.

Conversely, Cement Company of Northern Nigeria led the gainers’ table during the day, appreciating by N1.80 to close at N26.90 per share.

NEM Insurance followed with a gain of 12k to close at N2.60, while FCMB Group appreciated by 7k to close at N1.83 per share.

Linkage Assurance added 5k to close at 61k, while United Bank for Africa grew by 5k to close at N7.35 per share.

Breakdown of the activity chart shows that Diamond Bank was the most active stock, exchanging 239.36 million shares worth N497.89 million.

Guaranty Trust Bank followed with an account of 119.35 million shares valued at N3.79 billion, while Zenith International Bank sold 26.11million shares worth N563.19 million.

NEM Insurance traded 21.16 million shares valued at N57.46 million, while FBN Holdings transacted 15.97 million shares worth N115.64 million.

In all, investors bought and sold 499.21 million shares valued at N5.53 billion in 3,874 deals.

This was against the 300.80 million shares worth N3.76 billion exchanged in 3,317 deals on Friday.